Definitely… and thank you! You too! 
Trades are off the dailies, I use dailies and weeklies to assess trends. I never day-trade.
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An interesting close last night (Friday).
On an hourly basis the last few hours were quite strong but failed to rise above recent highs before drifting into the close.
The 4-hour doesn’t look much more than a small, profit-taking move at the end of a rather consolidatory two days prior to the weekend.
The daily candle is quite interesting. It has a longish lower wick and closed above its open. But overall it is a rather insignificant size body and - perhaps more significantly - failed at Thursday’s high. This again suggests just profit-taking ahead of the weekend rather than any significant sign of a change in direction.
But the theme of this thread is not where this pair might be going next, it is only about whether it was worth entering a long position on Fridays’ close or to wait until Monday and avoid the weekend exposure risk.
Based on the daily and 4-hour, it looks to me that there is little reason to expect a gap between Friday’s and Monday’s trading (excluding, as usual, any unexpected major events over the weekend!) which, surely, would be the main reason for entering on Friday?
If this exhaustion in selling is due to USD-related factors alone then we may well see a consolidative range-type week next week with some higher highs, as markets start to tune-in to the NFP expectations next Friday…but that is not the subject of this thread! 
NZDUSD 4-hour:
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According to me, it’s not ideal session for trading, even I don’t use 1st 2 hours of Monday.
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It depends on your trading style and market position. Usually I try to close all my running trades on Friday. Because any geo political or fundamental may cause unexpected move of market.
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See also,:
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Thanks for the replies! So if it’s necessary, then it’s a good idea to leave it open.
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I am not too sure I understand what you mean here. Are you referring to the possible direction during next week?
My own view on this pair (which I don’t actively trade but am becoming interested in!) is that the down move has, at best, only entered a neutral stance. My technical approach only shows upwards on 1-hour chart but the longer term still has a lower bias to it - which, interestingly, is also reflected in Dennis’ “Trading the trend with strong weak analysis”.
In other words, you may well see some upward movement, but the greater risk is currently still of a further break on the down side. However, if there is a change in sentiment then there are surely a lot of shorts that will look to get out quick and you will indeed see a good upwards trade - but has there been a change in sentiment for this pair yet?
Being a wimp regarding risk, my personal approach here would be to rather wait for the price to move up and then sell into it as soon as the 1-hour chart gives a reversal sell signal back into synch with the longer term picture.
But this is just my personal view on things here
Have you a live open trade on this now or demo?
…or were you just referring to opening a position on Friday closes in general?
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IMHO, the main concern of opening a position on Friday is getting stop out due to higher over the weekend margins requirement for most brokers or getting gapped out. Unless you do not have a stop loss order in place, you will always have to worry over the weekends. Some trader who are able to execute a hedging strategy well and is prepared to HEDGE with a pending buy/sell stop order instead may worry less. Question is hedging a worthwhile approach to forex trading in today’s world?
I find the following video explain hedging in forex best, feel free to take a look.
Normally, on Monday volatility is low and especially so during the Asian sessions. Pretty choppy with lots of fake out I would say.
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Well, I’m in Bangkok now so the market opens at 4AM here and I don’t want to wake up at that time, although sometimes I do just for Forex… So leaving a position open for the weekend or entering a position on Friday (with a SL of course) is not a bad idea if you think the market will go that way you think it will. 
I like NZDUSD because it’s easy to trade and there’s a lot of movement, candles are bigger on this pair. On the other hand, GBPNZD is a total mess lol.
There’s a strong downward movement here but I think at some point (now, for example) should retrace a little bit and then continue going down to last year’s low again. Weekly chart is ranging and is showing bearish movement, daily might retrace now a bit (couple of days) then continue to fall. 4H candles shows a wedge that has just broken. Just like two weeks ago. Will see soon. Long-term bias is totally bearish!
So I’m going to buy a little then sell around resistance area. 
Let’s see…
I’m trading on a live account for 4 months now. Haven’t traded on demo that much. I used a demo account to learn the trading software. I don’t like being on demo because it gives me a false image of how much money I can earn (with a $100k demo) and it doesn’t make me become emotionally prepared (emotional reactions lol) when trading on live. So I trade live with small money and with small risk so I can get used to it. I can afford to lose it if all my trades go wrong… at least there’s something to learn… a lot of things. And I have a realistic image and expectation how much I can really profit and lose… and earn later.
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Good, let’s just use stop losses. 
[quote=“Mordengaard, post:22, topic:147269”]
So leaving a position open for the weekend or entering a position on Friday (with a SL of course) is not a bad idea [/quote]
Although your SL will not actually be active while the markets are closed. If, when the market reopens on Monday, the price is beyond your SL it will be filled at that current price, not your stop level.
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Good to know that. 
Thanks.At this time I don’t think there’d be any chaos haha.
Hi @Mordengaard
How are you interpreting this so far?
We did not get any gap up so I guess we can at least say that there was no need, at least on this occasion, to have bought on Friday as opposed to waiting for Monday, which would have also given a better entry on the long side as well as avoiding the weekend exposure risk.
So that was the theme of this thread…
But how do you fell about the direction from here? Are you still anticipating a rise?
There has been a significant fall so far with this pair and there are signs that the move may now continue downwards, but it seems this is mainly about the USD rather than NZD so it may depend on what the USD does prior to Friday’s NFP. Personally, I am waiting to see what the NY session does before taking a view, one way or the other.
Ok, I have to confess, since I couldn’t find anything better to do, I couldn’t resist a little sell here, it was looking so weak. But it is stalling around the recent lows and I decided to take the money and run! - for now - well its a sweetener for the month end anyway - and MayDay is a BIG celebration here…!
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Hello Manxx, thanks for the follow-up!
Well, it’s consolidating at the moment and couldn’t get past last Friday’s low… However couldn’t go upwards either… So I’m not sure now, gonna have to say that it’s more bearish than bullish at the moment… But will see at night and tomorrow where we’re heading. I’ll open a sell position and hopefully I can keep it open for some days. Until this point I was like it’s gonna retrace a bit but it’s just so slow hahaha…
Anyway, this is the only pair I have been trading but I might have a look at other majors as well. I’m just afraid to open two positions at the same time. What if I think both EURUSD and NZDUSD will go up, then I buy, then suddenly both goes downwards… and I lose twice. Because that wouldn’t make sense to buy EURUSD and sell NZDUSD right? I stick to the daily and 4H charts recently.
Well, hope you’re having a great day!
There would be little sense in taking both in opposite directions as they seem to be acting almost in parallel at present. The only other pair on my radar at the moment is possibly shorting USDCAD but I am not quite there yet on my 4-hour model. It is bouncing around its Friday (weekly) close but not yet through it…
I am still keeping a reminder in front of me that Friday is NFP, and tomorrow is May Day and a day off here to be spent on family things…
So I guess I’ll spend this week just sniping wherever a target appears. But, yes, NZDUSD is still negative until proved otherwise…on my model anyway!
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Hope you’re having a good time. Can’t wait Friday’s NFP, this time I will trade it! Because last time I missed it…
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[quote=“Manxx, post:29, topic:147269”]
The only other pair on my radar at the moment is possibly shorting USDCAD but I am not quite there yet on my 4-hour model. It is bouncing around its Friday (weekly) close but not yet through it… [/quote]
A nice example of trusting one’s model, discipline and patience!
I was really tempted at one point to sell this pair and 4H chart was indeed within a hair’s breadth of signalling a short - but it didn’t. It would have been so easy to pre-empt the signal are sell…but the signal never came. It has been playing around the Friday close and then today broke through the recent highs instead…on the other hand:
[quote=“Manxx, post:29, topic:147269”]
So I guess I’ll spend this week just sniping wherever a target appears. But, yes, NZDUSD is still negative until proved otherwise…on my model anyway![/quote]
This one did continue its move with a nice day trade.
But this is all digressing from the point of this thread so best to leave it there - just wanted to tidy up the loose ends…
Well, it’s nice to see another follow-up from you.
I’m shorting NZDUSD since it gave us a sell signal on Monday, heading towards last year’s (around November 2017) low.
Anyway, if I’d sell NZDUSD, why would I sell USDCAD? Aren’t they interrelated? So, if NZDUSD goes down then USDCAD should go up?